Lovable Lingerie Limited (LOVABLE) AI Stock Analysis

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Lovable Lingerie Limited

(NSE:LOVABLE)

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Rating:39Underperform

Price Target:INR 64.00▼(-9.03% Downside)

Action:downgraded

Date:10/04/26

Lovable Lingerie scores poorly, driven primarily by deteriorating fundamentals: a more than 50% revenue decline since FY2022, severe gross margin erosion to 16.4%, negative operating profitability and thin, inconsistent cash generation. The near debt-free balance sheet is a genuine strength and limits financial risk, but very low returns on equity suggest capital is being underutilised. Technical signals reinforce the caution, with the price below all key moving averages and negative MACD momentum. Valuation offers no support either, as a 32x P/E and no dividend leave little margin of safety. A sustained turnaround would require evidence of revenue stabilisation, margin recovery and more consistent cash flows.

Positive Factors

Low leverage and balance-sheet strengthDebt-to-equity generally near 0–6% and equity remained about 1.7–1.8B, giving the company a substantial capital cushion. This limits balance-sheet strain and preserves flexibility to support working capital, brand investment, or distribution initiatives through a weaker operating period.

Negative Factors

Substantial revenue contractionRevenue fell from 972.2M in 2022 to 421.7–421.9M in 2025–2026, with only a modest 2026 uptick. This sustained step-down points to a much smaller current revenue base and makes future growth dependent on rebuilding volumes, distribution reach, or brand demand.

Lovable Lingerie Limited (LOVABLE) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.02B
Dividend Yield: ―
Average Volume (3M): 1,549
Price to Earnings (P/E): 32.4
Beta (1Y): 1.21
Revenue Growth: -10.49%
EPS Growth: 17.66%
Country: India
Employees: 493
Sector: General
Sector Strength: 55
Industry: Apparel - Manufacturers

Lovable Lingerie Limited Business Overview & Revenue Model

Company Description

Lovable Lingerie Limited, an Indian enterprise, specializes in the design, manufacturing, and sale of women's intimate apparel and related clothing lines. Their extensive product catalog includes foundational pieces like brassieres, panties, slips, a...

How the Company Makes Money

Lovable Lingerie Limited primarily makes money by selling branded innerwear and lingerie products under the “Lovable” label. Revenue is generated from the wholesale/distribution sale of finished goods to channel partners (e.g., distributors and retai...

Lovable Lingerie Limited Financial Statement Overview

Summary

Financials are weak overall. Revenue has fallen over 50% from its FY2022 peak to ₹42.2 crore, and gross margins have collapsed from ~58-63% to just 16.4% in FY2026, with EBIT and EBITDA both negative — indicating the core business is not profitable. The small net profit of ₹3.3 crore appears driven by non-operating items. Cash flow is erratic, with operating cash flow dropping to ₹2.0 crore and a weak 15.4% operating cash flow coverage ratio. The clear offset is a near debt-free balance sheet (debt-to-equity of 1.5%, ₹180.8 crore equity), which provides resilience, though return on equity of just 1.9% shows that capital is being poorly utilised.

Income Statement

22Negative

Balance Sheet

62Positive

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	421.72M	421.72M	421.93M	637.60M	954.87M	972.20M
Gross Profit	107.63M	69.14M	222.75M	352.48M	604.78M	564.65M
EBITDA	-1.45M	25.50M	-14.72M	79.69M	24.23M	87.24M
Net Income	32.18M	33.48M	17.86M	42.83M	-718.00K	57.12M
Balance Sheet
Total Assets	1.98B	1.98B	2.11B	2.11B	2.15B	2.05B
Cash, Cash Equivalents and Short-Term Investments	8.44M	8.44M	9.27M	4.53M	12.97M	4.73M
Total Debt	27.34M	27.34M	102.47M	100.58M	65.35M	21.61M
Total Liabilities	173.66M	173.66M	328.39M	343.93M	434.99M	329.08M
Stockholders Equity	1.81B	1.81B	1.78B	1.76B	1.72B	1.72B
Cash Flow
Free Cash Flow	21.98M	20.08M	52.10M	-79.74M	-65.50M	-2.71M
Operating Cash Flow	22.22M	20.32M	57.31M	-73.71M	-25.02M	11.30M
Investing Cash Flow	53.60M	-57.90M	-75.72M	50.39M	20.75M	-23.56M
Financing Cash Flow	-76.05M	-63.48M	14.89M	14.88M	11.08M	6.96M

Lovable Lingerie Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price70.35

Price Trends

50DMA69.25Positive

100DMA71.75Negative

200DMA71.87Negative

Market Momentum

MACD0.15Negative

RSI54.52Neutral

STOCH67.87Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LOVABLE, the sentiment is Positive. The current price of 70.35 is above the 20-day moving average (MA) of 67.88, above the 50-day MA of 69.25, and below the 200-day MA of 71.87, indicating a neutral trend. The MACD of 0.15 indicates Negative momentum. The RSI at 54.52 is Neutral, neither overbought nor oversold. The STOCH value of 67.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:LOVABLE.

Lovable Lingerie Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:LOVABLE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:DOLLAR	69Neutral	INR 15.25B	13.53	―	1.12%	6.24%	15.54%
IN:MONTECARLO	65Neutral	INR 10.37B	11.50	―	4.01%	15.59%	34.06%
IN:PAGEIND	62Neutral	INR 357.59B	45.76	―	1.92%	9.58%	-0.08%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:RUPA	47Neutral	INR 10.04B	12.64	―	2.42%	3.39%	4.53%
IN:LUXIND	39Underperform	INR 35.31B	34.74	―	0.17%	4.35%	-19.16%
IN:LOVABLE	39Underperform	INR 1.03B	32.35	―	―	-10.49%	17.66%

* General Sector Average

Performance Comparison

IN:LOVABLE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:LOVABLE	Lovable Lingerie Limited	70.35	-17.69	-20.09%
IN:DOLLAR	Dollar Industries Ltd.	267.52	-96.89	-26.59%
IN:LUXIND	Lux Industries Ltd.	1188.25	-5.40	-0.45%
IN:MONTECARLO	Monte Carlo Fashions Ltd.	498.30	-269.69	-35.12%
IN:PAGEIND	Page Industries Limited	31399.65	-7437.66	-19.15%
IN:RUPA	Rupa & Co. Ltd.	123.75	-65.61	-34.65%

Lovable Lingerie Limited Corporate Events

Lovable Lingerie Reaches Non-Email Shareholders With Integrated Annual Report Access

Sep 9, 2026

Lovable Lingerie has notified the stock exchanges that it has sent physical letters to shareholders whose email addresses are not registered with the company or depository participants. These letters provide a web link to access the company’s Integra...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 04, 2026

Lovable Lingerie Limited AI Stock Analysis